Troy Resources NL

Troy Resources NL

August 31, 2007 04:53 ET

Troy Announces Record Net Profit After Tax of A$20.1 Million

WEST PERTH, WESTERN AUSTRALIA--(Marketwire - Aug. 31, 2007) - Troy Resources NL (ASX:TRY)(FRANKFURT:TRW) -


- A 26% increase in net profit after tax to a record A$20.1 million (FY2006: A$16.0 million)

- An increased cash dividend of 7.5 cents per share (FY2006: 7.0 cents per share)

- A once-off special 1:25 bonus share issue

- A 94% increase in total cash and liquid assets of A$96.8 million (FY2006: A$50 million)

- Annual gold production of 105,723oz at A$330/oz cash cost

- More exploration results from the Andorinhas Project in Brazil. RC drilling confirms and extends the Melechete Lode towards the southeast with an intersection of 1m @ 68.6g/t. RAB drilling results to the southwest of the Lagoa Seca open pit, including 8m @ 3.3g/t and 8m @ 3.2g/t, indicating potential for further mineable open pit resources

- Open pit mining at Lagoa Seca is progressing well with the pre-strip and ore mining proceeding on schedule

- Construction is progressing well at Andorinhas and on track for a January 2008 start- up. The Mill at Sertao is currently being dismantled and will be relocated to the Andorinhas site starting the 6(th) September 2007. Civil works and leach tank construction is well underway

- Troy has accelerated exploration drilling at Andorinhas with all three Company owned drill rigs involved in the delineation of extensions to known ore zones at Mamao and Lagoa Seca West. Two contract diamond core rigs will be mobilized to site shortly.

- Exploration RAB drilling has commenced at the 1.3km long Babacu Zone at Andorinhas

For a full copy of the Profit Results and accompanying narrative, please go to the Company's web site at

T D McKeith, CEO

ABN 33 006 243 750

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